Lessons in business credit cards from the VP Financial Center Manager for Fifth Third Bank
Keith Richey, VP Financial Center Manager for Fifth Third Bank in Carmel, Indiana, has been helping business owners get their businesses on track for many years. In today’s “Access to Capital” segment, he introduces us to business credit cards and a helpful nonprofit organization.
Business credit cards can be a helpful tool for business owners to pay their vendors, buy materials and supplies, and potentially earn rewards. One thing Richey likes about credit cards is that a business owner is not exposing their checking account, and they’re using the bank’s money as opposed to their own for temporary purposes. Credit cards can lessen the impact of fraud on a checking account, for example.
Richey also said Fifth Third Bank likes for businesses to have been operating for at least two years before opening a business credit card. Also, Richey recommends keeping business purchases separate from personal purchases to make the accounting process simpler. For more information, watch the video above.
Fifth Third Bank partners with Bankable for a variety of funding opportunities for small businesses.